Playstation 3 $100 Dollar Price cut hits July 15th..

[Dolla Dolla]

Andir said:
While your pointing that out, they are sure to write it off as a loss (which they can report at any time or spread it through the year...)

According to Kotaku, they did just that: http://kotaku.com/gaming/the-thinking-is-wishful/microsoft-sticking-to-2008-profit-forecasts-275429.php

Wrote it off into last year's losses, therefore still shooting for profitability of the 360 in 08 ...